In 1994 William Bengen, a financial planner in Southern California, discovered that an individual starting retirement should be able to spend the equivalent of 4% of his/her investment assets, adjusted each year for inflation, for a period of 30 years without running out of money. The portfolio allocation that maximized this return was about 60%…
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I’ve written before about the advantages and disadvantages of reverse mortgages, especially Home Equity Conversion Mortgages (HECM) that are insured and regulated by the Federal Housing Administration (FHA) (see https://www.cognizantwealth.com/2014/02/20/reverse-mortgages-the-good-and-the-bad/). One of the advantages – the fact that you do not have to undergo an income and credit check in order to qualify for the…
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If you lose your job due to a layoff, the first thing you generally do is to start cutting expenses while searching for the next one. But if you’re in your late 50s or early 60s, your prospects may be considerably more limited. Although it’s illegal for employers to discriminate because of age, the fact…
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Earlier this year I wrote about a Bankrate.com article recommending South Dakota as the best place to retire (https://www.cognizantwealth.com/2014/05/15/should-you-retire-to-south-dakota/). I remarked that since we are all different, it would be more helpful to create a database of factors and leave it to us to decide for ourselves. The people at Reuters must have read my…
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This is a companion blog to the one I wrote previously on using dollar cost averaging (DCA) as a way to slowly buy into the market to avoid the risk of investing a large amount of cash at a market peak. That approach works when you are in the accumulation phase of your life (the…
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Have you ever been in a situation where you found yourself with a large amount of cash to invest? Perhaps it was from an inheritance, or from a bonus at work. Or maybe you actually won a lottery! In any case, how did you go about investing the money? Did you identify some number of…
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